USA Rare Earth (NASDAQ:USAR) Stock Price Up 2.2% – Still a Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price traded up 2.2% on Friday . The stock traded as high as $27.61 and last traded at $26.96. 16,429,967 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 18,850,039 shares. The stock had previously closed at $26.38.

Analyst Ratings Changes

Several equities research analysts have recently commented on USAR shares. Benchmark assumed coverage on shares of USA Rare Earth in a research report on Wednesday, January 21st. They issued a “buy” rating for the company. Roth Mkm set a $30.00 price objective on shares of USA Rare Earth in a report on Monday, April 20th. Wedbush started coverage on USA Rare Earth in a report on Monday, April 20th. They set an “outperform” rating and a $29.00 target price on the stock. Canaccord Genuity Group increased their target price on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a research note on Friday, March 27th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.20.

USA Rare Earth Stock Performance

The firm has a 50-day moving average price of $19.33 and a 200-day moving average price of $18.37. The stock has a market cap of $5.88 billion, a PE ratio of -8.99 and a beta of 2.38.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The firm had revenue of $1.64 million for the quarter. As a group, sell-side analysts anticipate that USA Rare Earth Inc. will post -0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. boosted its holdings in USA Rare Earth by 44.0% in the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after purchasing an additional 3,909,455 shares during the last quarter. Bayshore Capital Advisors LLC bought a new position in shares of USA Rare Earth during the 4th quarter valued at $102,378,000. Vanguard Group Inc. lifted its holdings in shares of USA Rare Earth by 533.3% during the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after buying an additional 5,083,288 shares during the period. State Street Corp boosted its stake in shares of USA Rare Earth by 78.4% in the 4th quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after buying an additional 2,212,177 shares during the last quarter. Finally, Inflection Point Holdings II LLC bought a new stake in shares of USA Rare Earth in the fourth quarter worth $37,188,000.

USA Rare Earth Company Profile

USA Rare Earth (NASDAQ: USAR) is a development-stage critical minerals company focused on advancing a fully integrated rare earth element (REE) and lithium project in the United States. Its flagship asset is the Round Top deposit in West Texas, a large, polymetallic concentration of light and heavy rare earth elements, lithium and other co-products. The company seeks to move this asset through resource delineation, pilot-scale processing and eventual commercial production to address growing domestic demand for secure REE supply chains.

In addition to exploration, USA Rare Earth is engineering an on-site separation facility that will utilize dry magnetic separation and hydrometallurgical flowsheets to produce mixed rare earth carbonates.